MarketWatch

[panej]

Originally Posted by yemo

Yes. I understand you.
Theoretically, if the transfer costs were negligible, wouldnt it then be possible to pre-arrange such transfers on a frequent basis in order to simulate activity on a given stock?

I agree, but you don't need that many shares to manipulate an NSE share as we have learned recently. All you really need is to make the last trade of the day with enough shares to stay above the minimum volume to effect a price movement. Eyebrows would be raised though if the same shares reverse direction arbitrarily.

[knightofdelta]

Originally Posted by panej

I agree, but you don't need that many shares to manipulate an NSE share as we have learned recently. All you really need is to make the last trade of the day with enough shares to stay above the minimum volume to effect a price movement. Eyebrows would be raised though if the same shares reverse direction arbitrarily.

The question is you cannot be definitely sure that your trade will be the last for the day. While you are busy doing your act, some innocent investors may be correctly pricing the stock up. Manipulation can only be done on stocks that are not traded actively.

[panej]

Originally Posted by knightofdelta

The question is you cannot be definitely sure that your trade will be the last for the day. While you are busy doing your act, some innocent investors may be correctly pricing the stock up. Manipulation can only be done on stocks that are not traded actively.

True; but it is usually a deliberate broker-assisted act and one that does not produce desired results everyday, but may hit enough times (even if it is just 25%) to cause damage.

[hispy99]

Originally Posted by docjuli

check it under list of affiliates:

WFE - List of Affiliates

thanks for pointing that out

[hispy99]

Originally Posted by knightofdelta

The question is you cannot be definitely sure that your trade will be the last for the day. While you are busy doing your act, some innocent investors may be correctly pricing the stock up. Manipulation can only be done on stocks that are not traded actively.

I think we can conclude that it is easier with illiquid stocks, but I doubt if it's impossible for liquid stocks.

[hispy99]

Capital market overhaul: SEC replies NSE
By Udeme Ekwere
Published: Thursday, 16 Apr 2009

The Securities and Exchange Commission has responded to the comments of the Nigerian Stock Exchange on the recommendations of the National Committee on the Review of Capital Market Structure and Processes, saying that it has not accepted all the recommendations.

Head, Media, SEC, Mr. Lanre Oloyi, however, said in a telephone chat with our correspondent that the commission was surprised that the NSE went to press even after making its views known to the commission.

According to SEC, the Exchange‘s comments, which had been communicated to the commission, were already being looked into with a view to modifying ambiguous areas.

Oloyi said the issue of appointing an executive chairman for the commission was rejected by the board, because it was not consistent with good corporate governance practice.

He also said that the issue of fee reduction was not accepted by SEC for now.

He said in spite of all odds, the commission was committed to repositioning the market for greater efficiency and competitiveness.

The Nigerian Stock Exchange on Tuesday faulted key recommendations of the review committee, giving fundamental operating patterns of the Exchange as reasons.

It frowned, for instance, at the recommendation of a downward adjustment of the volume of shares required for trading on the day of listing by introduction, saying that this overlooked the basis for insisting on 10 per cent.

The review committee had recommended a reduction in the mandatory requirement of the percentage of a company‘s issued capital made available on the floor of the Exchange at the time of listing by introduction to not more than five per cent.

But the Exchange, in its comments on the review, made available to our correspondents on Tuesday, argued that it should be trusted to ”determine from time to time, the quantity of shares that should be offered on the day of listing by introduction, based on prevailing market conditions.

The NSE said that the role of the SEC Chairman should be redefined.

According to the Exchange, ”The SEC board ought to be led by an executive chairman with a university degree qualification and at least 15 years‘ experience in capital market operations, finance and investments, law, economics, accounting, business administration or any other related field.

”Policies should also include a provision that calls for the board members to retire by rotation to ensure continuity.”

It also described as perilous, the recommendation that SEC should continue to depend on the market for its funding, saying that ”this invariably increases the costs of transactions and reduces the competitiveness of our market. We restate our earlier view that the Federal Government should fully fund the commission.”

The Punch: Capital market overhaul: SEC replies NSE

[zainabusman]

posted by waaan5

What I have found in the charade that is the NSE from the recent revelations of its clowns and court-jesters, is a nice way to make money. Why are we not riding their manipulations? Somebody has observed how these clowns bidded down the prices of Access, then moved to GT, Diamond etc.

Why dont we start what I term "manipulation analysis" similar to technical analysis? After a time we would have developed some expertise to ensure that we not only can predict which one the morons would price up/down before they do so? For example, I can predict a 'mini-bull' on First Bank at least for the next three trading days. Also I predict Total and Mobil would be manipulated by more than 100% in the next 12 months.

Believe me, this could be a good way to beat 'their market' and make money in the process.

Ur manipulation analysis is a good idea. While we were watching Zenith it dropped to a year low of N11.13. Within a few days it went up to N13.49. I wont be surprised if it breaks N14 by Monday. Giving whoever bought at the bottom a nice 25% in less than 2 weeks.

FBN is very close to its year low. I wont be surprised if it goes up 20%+ in the next two weeks especially since results are expected.

[williamschichi]

Originally Posted by zainabusman

Ur manipulation analysis is a good idea. While we were watching Zenith it dropped to a year low of N11.13. Within a few days it went up to N13.49. I wont be surprised if it breaks N14 by Monday. Giving whoever bought at the bottom a nice 25% in less than 2 weeks.

FBN is very close to its year low. I wont be surprised if it goes up 20%+ in the next two weeks especially since results are expected.

I did say it in one of my post about zenith bank rising to N14 maybe,i wish i had a more spiritual eyes.

It was not any tech or maniplation analysiss,but guess analysis.lol

[wanaj0]

Originally Posted by zainabusman

Ur manipulation analysis is a good idea. While we were watching Zenith it dropped to a year low of N11.13. Within a few days it went up to N13.49. I wont be surprised if it breaks N14 by Monday. Giving whoever bought at the bottom a nice 25% in less than 2 weeks.

FBN is very close to its year low. I wont be surprised if it goes up 20%+ in the next two weeks especially since results are expected.

First Bank so difficult to manipulate. Many interests are to be protected there. That's why it has not take a bashing like Inter and other banks.

[hispy99]

Committee report tears SEC, NSE apart, fuels stakeholders concern

Committee report tears SEC, NSE apart, fuels stakeholders concern
Friday, 17 April 2009 00:15 ABDUL IMOYO

The refusal of the Nigerian Stock Exchange (NSE) to align with key recommendations of the capital committee has elicited reactions portending a further erosion of confidence in the market. The committee was set up by the Securities and Exchange Commission (SEC) to review the ‘capital market structures and processes’. Specifically, those who spoke to BusinessDay on the development observed that disagreements between the two regulatory agencies would further erode confidence in the market.

Indeed, president of the Nigerian Shareholders Solidarity Association (NSSA), Timothy Adesiyan, described NSE’s stance that it would not reduce transaction fees by 50 percent as recommended by the committee as unfortunate.

According to him, since the committee had recommended reduction in fees, the NSE should have considered such proposal in the general interest of investors. He urged the two agencies to collaborate with a view to restore investors’ confidence and move the market forward.

“For SEC and NSE to work at cross purposes at this time would not be good for the market. Every investor depends on their cooperation to make sure that the market develops. For the two organisations to be at loggerheads at this time is an embarrassment to the investors in the market”, he said. Adesiyan maintained that the Exchange’s refusal to further reduce fees in the market may have been informed by the low volume of trading in the market as a result of the current downturn in the market.

The NSSA president said there is lower volume of trading which invariably translates to lower revenue for the stock exchange. He however noted that the Exchange should remember that investors are paying so much to do business in the market. “Besides, when two elephants fight, it is the grass (investors) that suffers. That is why they should consider that part of the recommendation.”

He stressed that if the two key agencies failed to reconcile their differences, shareholder groups and other stakeholders in the market would prevail on the capital market committees of the National Assembly to intervene. In the same vein, Jaiye K. Randle speaking yesterday at Yoruba Tennis Club symposium 2009 said the NSE has been left unsupervised for a long time now and “that contributed to the problems in the market right now”.

Similarly, a managing director of an insurance company who spoke on the condition of anonymity told BusinessDay that “as long as this infighting continues and no one knows who supervises who, confidence will not return to the market”.

Wale Alamutu, a capital market analyst, noted that the reaction of the NSE to the capital “market structure and processes” especially on listing of new issues, SEC oversight functions and reduction in market fees may keep investors away from the market.

According to him, “the regulators should come together in the interest of investors notwithstanding the NSE director general’s statement that people have not lost money in the market. A lot of potential investors have been discouraged by the present state of the market”.

[zainabusman]

Originally Posted by wanaj0

First Bank so difficult to manipulate. Many interests are to be protected there. That's why it has not take a bashing like Inter and other banks.

Is it a good buy at N14 or do u think it will slide further? I feel it has the potential to climb to N17 as we get closer to the result announcement.

[wanaj0]

Originally Posted by zainabusman

Is it a good buy at N14 or do u think it will slide further? I feel it has the potential to climb to N17 as we get closer to the result announcement.

I am sentimental with First Bank so may not be objective.

That said, I will just wait till GTB and Oceanic result is out before going for any of the banks (apart from SKYE). FBN result is not due till June/July so no hurry. Hopefully by then, the coast should be clear.

Would be surprised if FBN goes below N13.00 (well nothing surprises me anymore). Also you may not have the kind of price swings that you have with the likes of Diamond etc For the LONG TERM, you cannot go wrong with First Bank though it is over priced right now when you look at PE and dividend yield. It always sell at a premium.

[zainabusman]

Originally Posted by wanaj0

I am sentimental with First Bank so may not be objective.

That said, I will just wait till GTB and Oceanic result is out before going for any of the banks (apart from SKYE). FBN result is not due till June/July so no hurry. Hopefully by then, the coast should be clear.

Would be surprised if FBN goes below N13.00 (well nothing surprises me anymore). Also you may not have the kind of price swings that you have with the likes of Diamond etc For the LONG TERM, you cannot go wrong with First Bank though it is over priced right now when you look at PE and dividend yield. It always sell at a premium.

Definetely no hurry. I sold off my FBN 1st Qtr last year at around N50+. I still have not got back in.

In the last one year, we have been reminded time and time again of the virtues of patience.

So much is riding on GTB and Oceanic, i hope they deliver soon.

[lordgbengss]

Originally Posted by zainabusman

Definetely no hurry. I sold off my FBN 1st Qtr last year at around N50+. I still have not got back in.

In the last one year, we have been reminded time and time again of the virtues of patience.

So much is riding on GTB and Oceanic, i hope they deliver soon.

For me patience and timing is key in this business.

[dayoadebayo]

Market closed


Deals :
5,146


Volume :
172,689,124


Value :
N 953,343,499.4

[muranay@yahoo.com]

Originally Posted by dayoadebayo

Market closed


Deals :
5,146


Volume :
172,689,124


Value :
N 953,343,499.4

Index may go up, but it still a dry market.

[savvy]

Originally Posted by zainabusman

Definetely no hurry. I sold off my FBN 1st Qtr last year at around N50+. I still have not got back in.

In the last one year, we have been reminded time and time again of the virtues of patience.

So much is riding on GTB and Oceanic, i hope they deliver soon.

Folks one question
What if GTB and Oceanic dont post good results..
What would be the take.. one should be a step ahead of the game.. Already hearing rumours that SEC or so has held Oceanic results bcos of dividend..

[muranay@yahoo.com]

Originally Posted by savvy

Folks one question
What is GTB and Oceanic dont post good results..
What would be the take.. one should be a step ahead of the game.. Already hearing rumours that SEC or so has held Oceanic results bcos of dividend..

The price will crash further.

[docjuli]

AP share scam: SEC clears Dangote

...SEC said on Thursday that there was no evidence to show that Dangote instructed Nova Finance Securities Limited and its managing director, Mr. Eugene Anenih, to carry out any of the transactions, purportedly carried out on AP shares on his behalf.

http://www.punchng.com/Articl.aspx?t...00904174434228

[zainabusman]

Originally Posted by muranay@yahoo.com

The price will crash further.

Another scenario is that the market will stabilize since the results will give an idea of what to expect in the future. Investors dont like uncertainty.

On Oceanic, they need CBN approval for their accounts not SEC.